A 36-hole golf course will be built in the central city of Da Nang’s Ngu Hanh Son District, announced VinaCapital Group chairman Horst Geicke.
VinaCapital signed an agreeement last week with the UK’s Greg Norman Co to design the course.
"We hope to build a high-quality golf course which does not affect the traditional culture and the village atmosphere here, and we chose Gref Norman," said Geicke. "They have developed about a hundred golf courses around the world."
The golf course would be part of a high-end resort complex named Hoa Hai which VinaCapital is financing at a cost of US$130 million on a total area of 260ha, Geicke said.
Construction would be carried out in two phases, he added. The first phase, to be commenced by the end of this year and be completed within 12 months, would include a five-star, 350-unit resort, and a 10ha seaside villa complex, along with an 18-hole golf course.
The subsequent second phase will include hotels, a cultural village, a convention centre, a 30ha residential area and the second 18-holes of the golf course.
"We hope to contribute to the development of tourism in Da Nang and in the central region," Geicke said. "We aim to make the region a high-grade destination for international visitors, with leading golf courses Asia-wide."
VinaCapital currently manages two funds listed on the London Stock Exchange worth $1.4 billion and a $50 million joint venture.
The group planned to pour an additional $200-300 million into financing for infrastructure projects, Geicke said.
Source: VNS
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